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5368.0 - International Trade in Goods and Services, Australia, Mar 2008  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 06/05/2008   
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MARCH KEY FIGURES

January 2008
February 2008
March 2008
Feb 08 to Mar 08
$m
$m
$m
% change

BALANCE ON GOODS AND SERVICES
Trend estimates
-2 518
-2 662
-2 790
-5
Seasonally adjusted
-2 427
-3 261
-2 736
16
CREDITS (Exports of goods & services)
Trend estimates
18 704
18 870
19 042
1
Seasonally adjusted
19 117
18 360
19 176
4
DEBITS (Imports of goods & services)
Trend estimates
21 223
21 533
21 832
1
Seasonally adjusted
21 544
21 621
21 912
1


Balance on Goods and Services
Graph: Balance on Goods and Services



MARCH KEY POINTS


BALANCE ON GOODS AND SERVICES
  • The trend estimate of the balance on goods and services was a deficit of $2,790m in March 2008, an increase of $128m (5%) on the revised deficit in February 2008.
  • In seasonally adjusted terms, the balance on goods and services was a deficit of $2,736m in March 2008, a decrease of $525m (16%) on the revised deficit in February 2008.
  • The decrease in the seasonally adjusted deficit was due to the rise in goods and services credits, mainly non-rural and other goods, outweighing the rise in goods and services debits, mainly capital goods and consumption goods.


CREDITS (EXPORTS OF GOODS & SERVICES)
  • Seasonally adjusted, goods and services credits rose $816m (4%) to $19,176m. Non-rural and other goods rose $657m (5%) and rural goods rose $122m (6%). Services credits rose $36m (1%).
  • The rise in non-rural and other goods was driven by metal ores and minerals, which rose $471m (16%) and coal, coke and briquettes, which rose $341m (23%).


DEBITS (IMPORTS OF GOODS & SERVICES)
  • Seasonally adjusted, goods and services debits rose $291m (1%) to $21,912m. Capital goods rose $156m (4%), consumption goods rose $126m (2%) while intermediate and other goods fell $37m. Services debits rose $46m (1%).
  • The rise in capital goods was driven by machinery and industrial equipment, which rose $232m (17%), and the rise in consumption goods was driven by non-industrial transport equipment, mainly passenger motor vehicles, which rose $137m (9%).


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
April 2008 5 June 2008
May 2008 3 July 2008
June 2008 31 July 2008
July 2008 4 September 2008
August 2008 2 October 2008
September 2008 5 November 2008



REVISIONS

Revisions were made to the previous six months to incorporate the latest available data relating to merchandise trade and international trade in services. In original terms, these revisions have:
  • decreased the deficit on goods and services for February 2008 by $52m
  • decreased the deficit on goods and services for the eight months to February by $113m.


AVAILABILITY OF DETAILED SERVICES DATA

The trade in services data cubes, listed under Time Series Data on page 4, for data on a calendar year basis to 2007 have been updated concurrently with this issue. In addition, two new data cubes have been included showing more detailed travel data for all countries.


INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Selvi Sekhar on Canberra (02) 62525540.


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